Janney Montgomery Scott LLC Grows Position in Nordson Corporation (NASDAQ:NDSN)

Janney Montgomery Scott LLC boosted its stake in shares of Nordson Corporation (NASDAQ:NDSN) by 4.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 133,730 shares of the industrial products company’s stock after acquiring an additional 6,032 shares during the period. Janney Montgomery Scott LLC owned 0.23% of Nordson worth $26,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Nordson by 86.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 192 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 89 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Nordson by 73.7% in the 4th quarter. Tortoise Investment Management LLC now owns 271 shares of the industrial products company’s stock worth $57,000 after acquiring an additional 115 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Nordson during the 4th quarter worth approximately $62,000. CX Institutional purchased a new stake in shares of Nordson during the 1st quarter worth approximately $67,000. Finally, Canada Post Corp Registered Pension Plan bought a new position in shares of Nordson during the 4th quarter valued at approximately $92,000. 72.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Nordson from a “hold” rating to a “buy” rating in a research report on Friday, May 30th. Oppenheimer upgraded shares of Nordson from a “market perform” rating to an “outperform” rating and set a $260.00 target price on the stock in a report on Friday, May 30th. BNP Paribas downgraded shares of Nordson from an “outperform” rating to a “neutral” rating and set a $219.00 price target for the company. in a report on Monday, February 24th. Robert W. Baird lifted their price target on Nordson from $241.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, May 30th. Finally, KeyCorp decreased their price objective on Nordson from $260.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.00.

Nordson Stock Performance

Nordson stock opened at $214.12 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.56 and a quick ratio of 1.64. The firm has a market capitalization of $12.10 billion, a P/E ratio of 27.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.89. Nordson Corporation has a 1-year low of $165.03 and a 1-year high of $266.86. The company’s 50-day moving average is $197.98 and its 200 day moving average is $208.03.

Nordson (NASDAQ:NDSN) last issued its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $2.42 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.06. Nordson had a return on equity of 19.10% and a net margin of 16.51%. The firm had revenue of $682.94 million for the quarter, compared to the consensus estimate of $671.36 million. During the same period in the prior year, the business posted $2.34 earnings per share. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Research analysts forecast that Nordson Corporation will post 10.2 EPS for the current year.

Nordson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Thursday, June 19th will be issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Wednesday, June 18th. Nordson’s payout ratio is presently 40.10%.

Nordson Profile

Nordson Corporation engineers, manufactures, and markets products and systems to dispense, apply, and control adhesives, coatings, polymers, sealants, biomaterials, and other fluids worldwide. It operates through three segments: Industrial Precision Solutions; Medical and Fluid Solutions; and Advanced Technology Solutions.